to announce the finalised amendments to the controversial rules on tax evasion for foreign investors in the next 7-10 days, Finance Minister P. Chidambaram said on Friday, without specifying the details of what will be announced.
Mergers and acquisitions (M&As) in the banking space may require clearance from fair market watchdog, Competition Commission of India (CCI), as well as the sector regulator, Reserve Bank of India (RBI), Business Standard reported, citing an unidentified key CCI official.
Hong Kong-based private equity firm NewQuest Capital Partners expects to invest about $140 million in India, hoping to capitalize on the so-called secondary opportunities in the country, said Amit Gupta, partner and head of the India business at NewQuest.
The ministry of coal has issued deallocation letters for eight coal blocks after a decision by the inter-ministerial group. Among companies affected by the deallocation were Grasim Industries, Gujarat Ambuja Cement, Electrotherm, and Kesoram Industries.
Zuari Industries has signed a memorandum of understanding to set up an $800 million manufacturing facility in the United Arab Emirates.
Italy's Luigi Lavazza Spa is looking for a strategic partner or even an outright buyer for its Indian coffee chain Barista five years after acquiring it, and has begun preliminary talks with potential partners and buyers, said a person with direct knowledge of the situation.
Uttam Galva group has acquired majority stake of about 58.35 percent in ailing Lloyds Steel and plans to invest additional 3.8 billion rupees in the steelmaker to turn around the company, Uttam Galva Steels' Deputy Managing Director Ankit Miglani said.
InterGlobe Enterprises Ltd, which runs budget carrier IndiGo, plans to launch a university with a Canadian partner, University of Waterloo, and open retail stores in a joint venture with Swiss retailer Dufry AG as part of a diversification effort,
hairman Rahul Bhatia said in an interview.
Aviation minister Ajit Singh on Saturday ordered a probe into the pricing mechanism of airlines, saying there must be some reasonableness and limit.
Air India has launched the first tranche of its 74 billion rupees ($1.3 billion) 19-year bond sale. The 5 billion rupees tranche is being placed with the Employees' Provident